Golden Ocean to make gain of 77.9 mln usd on sale of two Panamax vessels |
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Published
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Thu, 25 Oct 2007 08:22
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OSLO (Thomson Financial) - Golden Ocean said it is to make a gain of 77.9 mln usd on the sale of two 1994 built Panamax vessels to an unnamed buyer.'This transaction will give a positive addition to net income of approximately 77.9 mln usd, and is estimated to release approximately 88 mln usd in additional liquidity,' the Norwegian shipping firm said.The total sale price, it said, is 124.1 mln usd, but the firm said it has had to pay 29 mln usd to get each vessel released from their existing charter agreements.The two vessels in question, Golden Ocean said, are the 'Golden Jade' and 'Golden Jasmine'.Delivery to the buyers is expected to take place in May 2008, the firm added.'This sale does not represent a change in strategy, but is rather showing the company's ability to make profitable asset play and secure historichigh earnings on a portion of its fleet going forward,' it said.alastair.reed@thomson.comar/slmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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